I've never sold my mentoring for a single penny. Hell I actually gave up doing it for free because I now believe that you can't teach trading and that it is a process of self discovery one has to learn on their own thru trial and error until they find a style and risk parameter that meshes with their personality. I agree on the rule part, hell I still struggle sometimes with discipline even after trading for 15 years.
Would the rule that you broke also cause you to fail in the combine ? Or did they allow you to pass the combine one way and then implement a different rule when you were live ?
I think you nailed it. The rules were changed on me once I went into the live environment. It was extremely annoying to be in a good trade and then be taken out of it because one of the coaches thought it was a good idea. Unless they are INTIMATELY familiar with my plan, they should let me run it as I see fit. I admittedly had bad trades that were my own fault. No ifs, ands, or buts about it. BUT the few instances in which a good trade was cut short for no real reason (other than to build a "cushion") had a bad effect on my bottom line. The CUSHION is the initial risk capital you are given.
No other service is selling hope of a trading account. It's actually a conflict of interest to offer education and a chance to be backed. If what they was offering education wise was valuable, why wouldn't they just trade it on their own and keep 100% of the profits ? The trailing profit is pure bull$hit. They want you to be profitable, follow all the rules and then expect for you to never encounter a drawdown. This is not how it works in the real world. How do you expect anyone to be profitable when the whole program is based on fear? Can you imagine being a new live trader and having all the worries about rules, drawdowns, timeframes, etc? Scared money is dead money and that's why after nearly 4 years of combines you still don't see all the talent they have backed putting up any decent numbers.
I never changed my tone. I have stated this from day one. Just do any search for my name and Austin because I've questioned from day one why he would ever give up 40% of his p&l to TST if he was killing it like he claimed. I have NEVER on this board recommended a profitable trader to go with TST. I have only suggested that net negative traders try it until they work out their issues. It makes absolutely no sense to me why a guy would want to blow through his bankroll making idiotic mistakes only to probably figure it out and have no capital left to trade. I mean my God, tat is the definition of stupidity.
If they broke their contract hire an attorney. I'm being dead serious, go after them. If they didn't and you just are upset because you "let" them micromanage your account. Then that is on you. You need to stand firm behind your convictions in life.
Mav, You have been the biggest TST cheerleader since day one. It was to the point that you had to defend yourself that you were not associated with them. We don't need to rehash that, but for you to claim that it was always about the training is insulting. It seems like for one reason or another your opinion of TST has changed and now you are backing off. Maybe it's because you are now realizing that no one is getting backed. And the few that do are purposely set up to fail (this seems to be the new theme of TST). Just my observation.
False. I'm a big fan of that business model. Hell, I even started a very lengthy thread going into detail everything they are doing wrong and how I would have done it better. It's in the archives. I'm a fan of the approach, not the firm. That is not to say I have anything against the firm, I'm indifferent to the firm itself. But the model is fascinating from a psychological standpoint. And watching it play out in real time with the various journals is the closes thing you will see on ET to no bullshit. You see, there are no net negative intra-day futures traders on ET. They are all billionaires who never lose. Then TST came around and suddenly, nobody made money. It was like somebody just came and turned on a switch and the all the cockroaches went running. TST was the closest thing we had to an independent 3rd party reporting. I found that very interesting. Now of course this was not new to me. I recruited close to 20 guys from ET to trade at my firm. Not a one of them ever lost money on ET. And not a one of them ever made money at my firm. You draw whatever conclusions you want from that.
Can you post a link here to the old thread/post where you talk about this not being about getting backed and solely about the training. Maybe quote the exact passage as well.
No dude, it's in the archives, use the search function. I'm not doing your research for you. Austin and I had a very lengthy debate about it and if you did a search you should pull up an entire thread where we went back and forth on this for several weeks. You can also pull up a search between me and Surf as we both discussed it as well. Hell I mentioned it all over the thread I started explaining how I would create a better combine. Hell I use to get tons of PMs on this issue and I responded the same to all of them, do the combine, become consistent and open an account at IB. It's pretty simple really.